Mumtalakat unveils new firm to boost Bahrain’s agri-food sector

PHOTO

In a move to bolster Bahrain’s agri-food sector and address food security challenges, Mumtalakat, the kingdom’s sovereign wealth fund, yesterday announced the establishment of the Bahrain Food Holding Company (BFHC).

The announcement also named the company’s board of directors, chaired by Basim Al Saie. Joining him are Sami Zainal, Khaled Al Amin, Yousif Al Manea, Eyad Faraj, Omar Syed and Mohamed Al Rahma. Their combined experience, the statement said, will be instrumental in strengthening BFHC’s capabilities and driving future growth.

Mumtalakat said its existing food sector assets will be consolidated under BFHC to facilitate collaboration and integration prospects, while also serving as a foundation for the development of Bahraini expertise in this specialised field.

Furthermore, BFHC will prioritise investments in ventures and technologies that will enhance food production, processing and distribution.

Mumtalakat chief executive Shaikh Abdulla bin Khalifa Al Khalifa welcomed the newly appointed board and said: “The establishment of Bahrain Food Holding Company aims to drive further growth and innovation across both the food and agribusiness sectors.

“This underlines our commitment to cultivating a positive impact and sustainability in the national food industry. It also underscores our dedication to addressing food security priorities for present and future generations in accordance with the government’s national food security objectives.”

He added, “By identifying and investing in innovative solutions, Bahrain Food Holding Company also aims to promote sustainable food manufacturing and agricultural practices that help reduce our reliance on imports, provide nutritious food, and stimulate manufacturing and distribution in the agri-food sector of the kingdom,”

BFHC aims to prioritise its investment efforts in sectors including agri-food technology, sustainable agriculture and food services, in pursuit of opportunities and partnerships that correspond with its overarching objective and approach of optimising its current assets and enhancing its portfolio to achieve long-term sustainable growth.